Retailer Boosts Buyback, Dividend; Sales for the Quarter Slipped 1.7%

Macy's Inc. said its business trends improved in April as the weather turned, a positive sign for the current quarter, and the department store operator also unveiled plans to boost its stock buyback plan and dividend.

Chief Executive Terry Lundgren said Macy's saw softness in January through March, with the exception of the Valentine's Day shopping period, as the company posted a surprise drop in sales for the quarter ended May...